Liberty Media’s acquisition of Formula One is now complete, as Chase Carey officially takes Bernie Ecclestone’s position as CEO of the sport. Ross Brawn and Sean Bratches have also been appointed to management positions in the sport.
Ross Brawn, a former technical director with 40 years of motorsport experience, will be taking a position as Managing Director in the motorsport side of Formula One, while Sean Bratches, a former executive at ESPN, will become the Managing Director of the sport’s commercial operation.
Meanwhile, Bernie Ecclestone has stepped down from his position on top of the sport, which he has held for four decades. Chase Carey has taken the position as Chairman and CEO of Formula One, while Ecclestone becomes an advisor for the sport, with the official title of Chairman Emeritus.
“I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula 1, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with,” said Ecclestone. “I’m very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.”
Despite being widely disliked by many Formula One fans, Chase Carey believes that the fans owe Ecclestone thanks for getting Formula One to this point: “The sport is what it is today because of him and the talented team of executives he has led, and he will always be part of the F1 family. Bernie’s role as Chairman Emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved.”
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